Joseph Belbruno Blog

  Germany has an economic plan at last July 8, 2026 6:24 PM GMT+10 Updated 5 hours ago German Chancellor and leader of the Christian Democratic Union (CDU) Friedrich Merz attends a press conference following a government coalition board meeting at the Chancellery, in Berlin,... Read more BERLIN, July 8 (Reuters Breakingviews) - After a year of hesitation and half-baked attempts at reform, Friedrich Merz seems ready to address Germany’s economic malaise. The conservative chancellor ​and his center-left coalition partners have agreed on their first  serious plan to get the economy moving again. ‌Their 2027  budget  which will be presented to parliament this autumn, and partly financed by more than €200 billion worth of borrowing, confirms Merz’s determination to break Germany’s decades-old debt taboo. The reforms, and the budget, could lift Germany’s anemic growth rate as soon as this year, according to ​Deutsche Bank economists. A lot will however depend on whether an...

  China's AI curbs would trigger cascading costs July 8, 2026 3:37 PM GMT+10 Updated 1 hour ago Visitors stand near a sign of artificial intelligence at an AI robot booth at Security China, an exhibition on public safety and security, in Beijing, China June 7, 2023. REUTERS/Florence Lo HONG KONG, July 8 (Reuters Breakingviews) - Beijing is wielding a double-edged sword as it mulls restricting overseas access to the most advanced Chinese AI models. On the one hand, such ​curbs, which would include some open-source software and those yet to be released, would simply mirror severe export controls ‌the U.S. imposed on Anthropic's Mythos, a model purported to function as a hacking super-weapon. What Beijing will need to consider, though, is what costs such a move would impose on its own global AI ambitions - and whether those are worthwhile. Over the past month, at meetings led by China's Ministry of Commerce, participants discussed the ​possibility of putting limits on Chinese ...

Britain   Public debt on course to hit 300% of GDP, says watchdog Mehreen Khan - Economics Editor Feline the pinch Next image › The Office for Budget Responsibility, the government’s fiscal watchdog, has produced its annual assessment of the long-term state of the public finances for the next half a century. As in previous years, the report warns of structural issues facing the UK economy that could consign it to a future of permanently high debt levels and rising pressures on public spending. This includes an ageing society, weak productivity growth, and increasing demands on the state to meet goals such as defence spending and the green transition. These are some of its findings. BALLOONING DEBT LEVELS In almost all the scenarios modelled by the OBR’s economists, public debt is on an “unsustainable path”. The UK’s average debt pile has tripled since the start of this century and is at its highest outside wartime at 95 per cent of GDP. Assuming no change to government policy and n...

  We’re in a heatwave, so why is a ‘cold blob’ in the Atlantic causing so much concern? A ‘cold blob’ in the North Atlantic has been troubling scientists for the past decade (Public Domain Media) I t may sound strange considering this summer’s multiple unrelenting heatwaves , but a less-talked-about anomalous climate phenomenon is steadily gaining attention: a giant cold patch has formed in the North Atlantic Ocean . Dubbed the “cold blob” or “warming hole”, this vast tranche of water in the subpolar North Atlantic south of Greenland is the only place in the world to have cooled significantly since the 19th century. In fact, it has dropped by nearly 1C since 1900; the plunge in temperature first started ringing alarm bells in the scientific community around a decade ago due to its swiftness and severity. Not only could the cold blob itself have a significant impact on our climate and weather systems, but its very existence potentially suggests that something far more worrying i...

  China , explained. This week, China test-fired a JL-3 intercontinental-range submarine-launched ballistic missile into the South Pacific nuclear-free zone (Pedro Pardo/AFP via Getty Images) Beijing’s own goal in the Pacific Did China’s missile test just solve Albanese’s Pacific security problem? Oliver Nobetau 7 July 2026 3 min read Australian Prime Minister Anthony Albanese has been on a hot streak of Pacific diplomacy . Over the past week, Australia has inked three pacts – the Nakamal Agreement with Vanuatu, the Ocean of Peace Alliance and the Vuvale Union, both with Fiji – which are reshaping the region’s security architecture. These positive developments have been overshadowed by a Chinese submarine test-firing a missile carrying a dummy warhead into Pacific waters (Opens in new window) , which analysts say is a direct warning to Pacific countries (Opens in new window)  and a reminder of the PLA's reach and presence. While the missile test may be a demonstration of Chin...